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The looming battle between the young and the old

Article Abstract:

The conflict between the interests of young and old voters will be the key area of tension in the political life of developed countries in the first half of the 21st century. The debate about taking money from the wealthy and giving it to the poor is becoming less significant, and attention is now focusing on the extent to which money should be taken from the young and given to the old and taken from people in work and given to the retired. The pay-as-you-go welfare state is creating an extremely large transfer of wealth between generations, as the number of workers for each pensioner continues to fall.

Analysis, Distribution (Economics)

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Why we failed to see the Asian contagion coming

Article Abstract:

Financial markets are almost always ahead of reality, but this has not been the case in predicting the impact of financial crisis in Asia on Japan. However, financial markets are now beginning to factor really negative developments in the region into their calculations. Some observers believe that an upturn will start to take place in mid-1999, with a more general recovery beginning in 2000. However, regional economic recovery will not take place unless the Japanese economy begins to revive.

Economic aspects, Japan, Asia

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Why forecasters failed to see signs of trouble ahead

Article Abstract:

The challenges facing economic forecasters are discussed. It is argued that forecasters should become more independent of those who fund them, and that academic forecasting should be fostered. There is also justification for forecasters reviewing their work and identifying areas for improvement.

Financial Forecasting, Practice, Economic forecasting, Business forecasting

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